IMF Executive Board Extends Dominica's Repayment Expectations

The Executive Board of the International Monetary Fund (IMF) today approved a one-year extension of Dominica's repayment expectations to the IMF in a total amount equivalent to SDR 1.32 million (about US$2.0 million) arising on December 2, 2004 and March 2, June 2, September 2, October 28 and December 2, 2005. The repayments will now fall due exactly one year after these dates.

IMF policy on repayment expectations allows for an extension where the member's external position is not sufficiently strong for it to repay early without undue hardship or risk. Because a decision to approve an extension of repayment expectations is a technical one, it is not based on an assessment of the authorities' economic program.